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Zomato acquires Uber Eats in an all-stock deal

Zomato said Uber Eats in India would discontinue operations and direct restaurants and delivery partners to the Zomato platform, effective January 21

January 21, 2020 / 09:03 PM IST

Indian online food delivery startup Zomato on January 21 said it had agreed to buy Uber Technologies's Indian food delivery business in an all-stock deal.

Uber will in turn get a 9.9 percent stake in the Gurugram-based company.

The deal value is at around $350 million (around Rs 2,485 crore), according to a report in The Economic Times. Moneycontrol could not independently verify the report.